Challenges and Impact of LIBOR Transition

You are cordially invited to participate in an invitation-only roundtable discussion on the Challenges and Impact of LIBOR Transition on July 18 in New York City. This is a great opportunity for a peer-to-peer discussion on the implementation challenges facing financial institutions, their preparedness and view of the success and timelines for the LIBOR transition.

Registration will be limited to 20, so RSVP now to reserve your place.

Methodology and Risk: Inconsistent fall-back provisions across currencies, challenges in creating new products based on new Alternative Reference Rates (ARRs), Risk Model updates and development

Product Strategy: New product and service design, managing the economic impact on the existing LIBOR portfolio

Technological, System and Operational Changes: Front, Middle and Back Office all need to undergo significant changes to prepare for the transition to new ARRs

Contract Amendments and Reporting: Changes to existing contracts and meeting new requirements for regulatory reporting

Agenda

Time

Event

8:00am - 8:30am

Registration, Breakfast and Networking

8:30am - 8:35am

Welcome by Michael Ivie, PRMIA New York Chapter Steering Committee Member

8:35am - 8:45am

Opening Remarks to Frame the Discussion by Rei Shinokuza, CFA, FRM, FHLB of New York

8:45am - 10:00am

Roundtable Discussion

In July 2017, the UK’s Financial Conduct Authority (FCA) announced that it will cease asking banks to submit LIBOR quotes from 2021. LIBOR currently covers approximately USD 250TN in financial contracts globally. The current view of the PRA and FCA, based on feedback from the “Dear CEO Letter”, is that banks and asset managers are at various stages of preparation for this massive change. While some Tier 1 banks are well-advanced, some buy-side firms have not yet started.

Against this background, we cordially invite you to participate in our discussion on the implementation challenges facing financial institutions, their preparedness and view of the success and timelines for the LIBOR transition.

The breakfast will be hosted under Chatham House Rule to ensure opinions expressed by the participants will not be attributed to a specific person or their company affiliation.

Speakers

Michael Ivie, PRMIA New York Chapter Steering Committee Member and Event Facilitator

Michael is a Managing Partner at a specialized professional services firm that empowers data intensive
businesses with subject-matter leadership and execution-focused delivery capabilities. Michael serves on PRMIA’s New York Steering Committee and the Global
Finance Committee for PRMIA's Board of Directors.

Michael has over a decade of experience in Finance, Risk and Technology in both
public and private sectors. His diverse background as a Trader, Developer, Analyst,
Enterprise Risk Manager, and Management Consultant for many of the world’s leading
financial institutions has helped him develop a unique perspective on how these
organizations function and how to navigate a changing business, technical, and
regulatory landscape.

Michael received an MS in Finance and an MBA in Risk Management & Insurance from Georgia State University’s J. Mack Robinson College of Business. He
earned a Professional Risk Manager certification from PRMIA, Basel Compliance
Professional designation from BCPA, Project Management Professional credential
from PMI, and numerous professional industry licenses and data/IT certifications.

Rei Shinozuka is the Head of the Benchmark Index Transition Office at the Federal Home Loan Bank of New York, coordinating institutional transition strategy with executive management and representatives from Capital Markets, Marketing, Legal, Accounting, Operations, Technology, Risk and Audit departments. Prior to this role, Mr. Shinozuka was an MBS strategist at UBS, winning Institutional Investor awards in 2007 and 2008 for Structured Securities ABS strategy. Before this, he was Director of Fixed Income Quantitative Research at PaineWebber and UBS, whose department created structuring and analytics technology for the #1-ranked Agency CMO issuer of the early 2000s. He also developed CMO and Mortgage Analytics at Morgan Stanley.

Mr. Shinozuka earned his MBA from the Columbia Graduate School of Business, MS in Computer Science from the Columbia School of Engineering and BA from Columbia College. He is a CFA® charterholder and Financial Risk Manager certified by the Global Association of Risk Professionals.

Thank You to Our Sponsor

Registration

Participation in this event is by invitation-only and is free for members and non-members, although registration is required. Click "Register Myself" below to reserve your spot. Make sure to click "Continue" to proceed with your registration. (If this is your first time accessing the PRMIA website you will need to create a short user profile to register.) Support events like this by becoming a member.

When

7/18/2019 8:00 AM - 10:00 AM

Where

3 West Club
Grand Salon, 3rd Floor
3 West 51st Street
New York, NY 10019
UNITED STATES